Can a 'hippo' save Solana alone, and the zoo market will return after three years?

Original | Odaily Planet Daily (@OdailyChina)

Author|Nan Zhi(@Assassin_Malvo)

On the afternoon of September 27th at 2:00 PM, the internet celebrity hippo concept Token MOODENG broke through a market capitalization of $200 million, pumping around 84% in 24 hours, becoming the focus of follow throughout the entire market.

While MOODENG pump, funds are also being brought back to Solana from other networks. ETH network Gas has remained high in the range of 20-40 gwei in the past few days, but has fallen to around 10 gwei at the time of writing.

While Solana, under the leadership of MOODENG, has started a new wave of ‘zoo’ frenzy, various internet-famous animals are being successively brought to Pump.fun. And the participation of users is very high, with these animal tokens often skyrocketing to a market cap of millions of dollars within half an hour of going online, showing a trend reminiscent of the crazy zoo in 2021.

Odaily will compile some of the top ‘internet celebrity animal’ concept Tokens in this article, and briefly interpret the differences between this round of market and the previous zoo.

Token Sorting

MOODENG

Data: Market Cap 2 billion USD; holding Address 19380; 24-hour volume 45.7 million USD

Source: Famous hippopotamus from Khao Kheow Zoo in Thailand.

omochi

Data: Market Cap $23.2 million; Holdings Address 8029; 24-hour volume $37.6 million

Source: TikTok popular frog, the related account tomoflys has 420,000 followers and received over 20 million likes.

PESTO

Data: Market Cap 2350 million USD; holding Address 8378; 24-hour volume 2280 million USD

Source: The viral king penguin from the Melbourne Aquarium in Australia.

HUAHUA

Data: Market Cap $4.6 million; Holding Address 3530; 24-hour volume $15 million

Source: ‘Chengdu Culture and Tourism Honorary Director’ Panda Huahua, official video accounts including Chengdu Panda Breeding Research Base, etc., Token has more domestic publicity.

degen

Data: Market Cap $2.5 million; holding Address 1917; 24-hour volume $15.6 million

Source: Instagram internet celebrity otter, with over 1 million followers.

JONA

Data: Market Cap $2.3 million; holding 2732 Addresses; 24-hour volume $11.2 million

Source: MOODENG’s mother, pump because of the official account’s response name at the zoo today.

Will another round of ‘zoo’ rally crash the crypto market?

In 2021, DOGE pumped like crazy, approaching a price of 1 USDT, successfully breaking through and attracting many users. Funds overflowed into other Meme Tokens, such as SHIB, AKITA, PIG, FLOKI, and achieved astonishing gains.

However, the good times didn’t last long. After the hype of the ‘zoo’ concept, the market also peaked. DOGE reached its all-time high of 0.73995 USDT on May 8, 2021, but 11 days later, there was a big dump of 519.

Currently, the Solana MEME market is also at a high emotional level. The combination of internet-famous animals and any smart money leading the way usually means a market capitalization of two to three million US dollars, but there have also been multiple situations of quick A-tops followed by sharp declines. Therefore, participating players still need to pay attention to risk control and not forget Solana’s PvP feature. At the same time, “frequent trial and error in low positions, betting on Light Positions to win hundreds of times” or focusing on absolute top tokens may be the most appropriate strategy at present.

Will this round of zoo market become the main cause of the market crash? The author makes a subjective judgment here: No. The market’s volume, leverage ratio, and user composition are completely different from those of the past. On the other hand, when PEPE led the market in March, we analyzed the correlation between market trends and social media popularity in ‘Comparing the correlation between DOGE market trends and social media popularity, has PEPE and WIF broken through (peaked)?’ PEPE and WIF have not reached the level of DOGE’s popularity outside the circle, and Tokens like MOODENG are still far from PEPE’s Market Cap. The risk may still be limited to the Meme market.